HomeMy WebLinkAboutRES 022806-R - Bond GHFDC Wesleyanes,O9 agocc
RESOLUTION APPROVING A BOND RESOLUTION BY
GEORGETOWN HEALTH FACILITIES DEVELOPMENT CORPORATION
PROVIDING FOR THE ISSUANCE OF BONDS FOR
WESLEYAN HOMES, INC
THE STATE OF TEXAS :
COUNTY OF WILLIAMSON :
CITY OF GEORGETOWN :
WHEREAS, the Georgetown Health Facilities Development Corporation (the "Issuer") is a nonprofit
corporation created by the City of Georgetown, Texas (the "City") pursuant to Chapter 221, Texas Health and
Safety Code; and
WHEREAS, the City has been informed by officers of the Issuer that the Issuer has been requested
by Wesleyan Homes, Inc. (the 'Obligated Group Representative") to assist it in financing and refinancing, on
a tax-exempt basis, the cost of certain health facilities; and
WHEREAS, a public hearing was held with respect to the issuance of bonds by the Issuer for the
benefit of the Obligor; and
WHEREAS, it is deemed necessary and advisable that this Resolution be adopted.
THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF GEORGETOWN, TEXAS
THAT:
Section 1.. The City of Georgetown hereby approves the issuance of the aforesaid Series 2006 Bonds
in the maximum aggregate principal amount of $13,500,000 for the Obligor, and further approves the Project
as described in the Loan Agreement relating to the Series 2006 Bonds, and such approval shall be solely for
the purposes of Section 147(f) of the Internal Revenue Code of 1986 and the City of Georgetown shall have
no liabilities for the payment of the Series 2006 Bonds nor shall any of its assets be pledged to payment of the
Series 2006 Bonds.
Attest:
Gary Nlon, Mayor Sandra D. Lee, City Secretary
Approv�.• as to form:
C./
Patricia E. Carls, City Attorney